AUD/USD

Discussion in 'Forex Trading' started by stevegee58, May 11, 2009.

  1. I've been watching this pair for a few weeks. A very nice uptrend.

    I drew that green trendline last week. Look how it's just bouncing:

    [​IMG]

    This is all I do; trading horizontal and sloping trendlines.
     
  2. How did you get rid of the weekend bars?
     
  3. Oanda has a few decent features, despite what some say.

    [​IMG]
     
  4. Price bounced 50 pips overnight and retraced back to support. I'm currently in at 7620. My stop is below support; if I'm stopped out, I'll look for another re-entry opportunity. I drew a downtrend line that must be broken before I add to the position (if it moves higher).

    [​IMG]
     
  5. Now that's what ah'm talkin' 'bout.

    The purple line is the new accelerated trendline. I'll try to buy dips to it.

    [​IMG]
     
  6. Re-entered long at 0.7529.
    Green horizontal is daily support, for what that's worth!

    [​IMG]
     
  7. Sucker fell outta bed, didn't it? I was probing for a potential multi-week ride but ended up with a day trade profit.

    Hate to say it, but it looks a lot like a double top on the 3 hour chart.

    7525 is the 50% retrace from the low on 5-May to the high on 10-May. It's looking like it might bounce from there.
     
  8. DO NOT ignore the weekend bars. Any type of trading that goes on is important. If you "cut out" a certain portion you distort the chart big time.
     
  9. I only filter out the ones that go tick tick tick straight across. My filter opens back up at noon Sunday eastern US time.
     

  10. Weekend bars.
    I spent many weekends in bars. Trading went on constantly.
    Money for beer, beer for sex, sex for drugs. I "cut out" the whole scene entirely.
    Sorry Publix, couldn't help myself.
     
    #10     May 13, 2009